PersistenceMarketResearch states that the global banana puree market will witness a CAGR of over 4% between 2020 and 2030.
Majority of functional beverages are abreast with minerals, vitamins, fruit purees, and vegetables. Some of them are inclusive of performance drinks, energy drinks, and improvised fruit drinks. North America comes across as the highest revenue generator herein due to increase in awareness amongst the consumers.
Also, with more number of working mothers increasing day after day, the demand for baby food is witnessing an exponentiation. It consists of yoghurt, baby led weaning, oatmeal, easy-to-digest cereals, and fruit purees. As such, banana puree could be used effectively for preparing the naturally sweetened yoghurt (banana yoghurt), added into the baked goods (as stated above), swirled into oatmeals, and thrown into smoothies. Banana puree could be frozen for two to three months.
The European consumers prefer banana cakes. This renders the Europe a significant revenue generator in the banana puree market. The personal care and cosmetics industry is also asking for fruit ingredients in their beauty care/skin care products. Hordes of cosmetic conglomerates like Unilever, Procter & Gamble, and L’Oreal Group are into investment of noticeable funds herein, and coming up with new-fangled products having banana puree.
The key players in the banana puree market include Newberry International Produce Ltd., Riviana Foods Pty Ltd., SunOpta Grains and Foods Inc., The Kraft Heinz Company, Nestle S.A., Dohler GmbH, Hiltfields Ltd., Shimla Hills Offerings Pvt. Ltd., Ariza b.v., and Anigua Processors. The banana puree factory opened by Antigua Processors in Apr 2014 has been catering to the growing demand for banana puree to suffice for infant milk. Coca-Cola, in 2018, did come up with Minute Maid smoothie available in mango and banana variant. The future may see more variants based on demand.